Howard Hamilton

Racing interests do not want much more than to see the industry recognised for the tremendous potential which remains untapped.

The sport of horse racing, despite its solid contribution to the social and economic fabric of this country, still remains a little heralded industry. It is noteworthy that the Prime Minister, in his recent reception honouring sportsmen and sporting organisations, failed to recognise the contribution made by the members of the racing fraternity who continue to fly the Jamaican flag both here and abroad

It is only recently we were even considered as being worthy of being offered a national honour. But, not withstanding all of this, we will soldier on in the hope that one day our efforts will at last bear fruit.

High expectations

A new board has now been appointed to guide the affairs of the Government-owned company - Caymanas Track Ltd. - and, as usual, expectations are high. The new Chairman, the Hon. Pat Rousseau OJ, has been involved in the industry for many years. At one time, he guided the affairs of the Thoroughbred Owners and Breeders' Association when he was a major contributor to the breeding industry.

He remains an active owner and has very strong views on the direction that racing should be headed. We wish the chairman and his new board well and the associations of horsemen stand ready to contribute in the effort to move this industry into the 21st century and beyond.

As we herald the appointment of a new board, let us not forget the sterling contributions of the outgoing board. This column has at times been critical, but credit must be given where credit is due.

There is no doubt that there now exists a much more harmonious relationship with all the racing associations, especially the volatile Trainers' Association. They successfully negotiated a reduction in customs duties to allow the importation of blood stock to supplement the racing programme and improve the breeding stock.

They were quick to respond to the need for more participants and have contributed to the revolving loan fund set up to provide assistance for the purchase of horses in the annual yearling sale.

They quickly appreciated the problem of the viability of the industry and the recurring problem of an inequitable tax structure. No promoting company has been able to survive because of a tax structure which taxed gross sales without recognising the costs related to achieving those sales.

The board did get an agreement to change the basis to one of a tax on net sales, i.e. gross sales less pay-outs to the punters and purses to the participants - trainers, jockeys, grooms, owners and breeders.

This has been a major achievement and has resulted in the accumulation of much needed surpluses to supplement the payment of purses and carry out the much-needed maintenance and capital expenditure. This is an ongoing problem and an area which will need the urgent attention of the new board. There is no doubt that racing can generate the revenue which it needs for its own survival.

Bookmaking

What we need is an equitable distribution of this throughout the industry The activity of the bookmaking industry must become an integral part of the cash flow of the promoting company. Hopefully, the new board will recognise the need to participate fully in the TOTAL sales generated by their promotion if one is to ensure continued viability of the industry.

The board has always been responsive to the problems of stakeholders and maintained lines of communication at all times. They recently reduced the take-out of the betting dollar from 30 per cent to 25 per cent, ensuring better return to their most important customer. This has resulted in increased revenue and the plan was to introduce a further reduction at the end of the year. Hopefully, the new board will follow through with this promise, realising that there is now the evidence to prove that less means more.

Horsemen owe a debt of gratitude to the outgoing board for a job well done. Were it not for the agonising period of non-activity because of the ill-fated divestment process, much more would have been accomplished. Well done "lawyers and accountants".

As the tenure of the old board comes to an end and we usher in a new board, let us start by letting them know that there is no honeymoon period and the plans for moving the industry forward must now move from the discussion phase to the action stage. We will be watching.